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Canada – New racino helps drive Century’s revenues up

The debut of the Century Downs Racetrack and Casino, opened in Calgary in May, helped boost Century Casino’s 2015 profits.

Overall net operating revenue came in at $134.4m for the year, marking a 12 per cent increase. Adjusted EBITDA was $23.5m, marking an 83 per cent increase whilst earnings attributable to shareholders were $11.9m, an 867 per cent.

Peter Hoetzinger, Co Chief Executive Officers of Century Casinos, stated: “Century Downs and Century Bets successfully opened for business in the second quarter and have contributed significantly to our top and bottom lines every quarter since. The results have stabilised on a high level. We generated $4.5m in revenues and $1.5m in EBITDA with a 34 per cent margin, in line with our expectations. We are pushing our loyalty program signups and continue to specifically target the markets of North and Northwest Calgary, both of which do not have a casino. Century Downs is the only horse racetrack in the Greater Calgary area. The racing season has already begun. Our racing entertainment center includes a casino with 550 slots and electronic table games, seven video lottery terminals as well as food and beverage and off-track betting facilities.”

Century operates 24 casinos in four different countries as well as on-board luxury cruise ships. In total it offers over 3,000 slot machines and 240 gaming tables.

Erwin Haitzmann, Co Chief Executive Officer of Century Casinos, added: “Our company had an exceptional 2015, as all of our properties increased both net operating revenue and Adjusted EBITDA year-over-year, in local currency. Casinos Poland more than doubled its Adjusted EBITDA and grew its Adjusted EBITDA margin from 7.3 per cent to 13.5 per cent. Our balance sheet is in great shape, as net debt decreased from $13.2 million at the end of 2014 to $7.2m at the end of 2015.”